Solomon Corp announces new acquisition and alliance
June 30, 2017
Solomon Corporation is excited to announce a new acquisition and alliance that will have both immediate effects and long-term benefits for customers and employees.
Solomon is acquiring the assets and employees of the KEC Apparatus and Testing Division from Kansas Electric Cooperatives leading the organizations to form an ongoing alliance.
Solomon Corp has had relationships with cooperatives in Kansas for decades. “The chance to formally discuss developing an acquisition and alliance between the organizations came together a couple months ago rather quickly as both sides recognized the value of this opportunity,” said Mitch Sweigart, Business Development Manager.
Similar cultures make for a good fit
Throughout the company’s history, Solomon Corp has recognized and fostered a very strong cultural fit between its rural business based in Solomon, Kansas, and the nature of cooperatives and their desire to bring their members value. “KEC built a very successful business with a loyal customer base and the desire to build a partnership with the organization has been present for years,” Mitch explained. The Apparatus and Testing Division offers sale and repair of regulators, reclosers and breaker products, as well as dissolved gas analysis sampling.
With KEC, it became very clear early on in the process that the two organizations share a similar culture and passion for their customers and employees. “The leadership of KEC, starting with CEO Bruce Graham, has been top notch to work alongside throughout the entire process and he really helped navigate the project to success,” Mitch said. “From the very beginning of our conversations, Bruce demonstrated a clear and consistent concern for the current employees and customers.”
KEC will be operating under the Solomon Corporation name, but will continue providing services out of the Osage City, KS facility. “KEC is a well-operated and safe business with capable employees and equipment. We do not anticipate messing with something that isn’t broken. And we want to maintain a similar feel and service level for all of KEC’s current customers,” Mitch explained.
Over the next few months, personnel from both organizations will spend time integrating their systems together. They anticipate learning much from each other to maximize the level of quality and support they are able to provide their joint customer base.
Repeating a successful model
Solomon Corporation is committed to growing and finding ways to add value for our customers and employees. The company’s leadership recognizes that the electrical cooperative customer base offers opportunities to grow. “Cooperatives make up the largest share of business by customer segment for Solomon as their needs match up well to the breadth our products and services,” Mitch said.
Solomon Corp completed a similar alliance with Texas Electric Cooperatives in 2007, and the success of the TEC partnership paved the way for the company to be comfortable and excited about this opportunity in its own backyard. “In evaluating any partnership,” Mitch said, “we really want to learn about the organization to gauge whether we can be better together than apart and leverage each other’s strengths to achieve more.”
It was essential to bring the combined relationships and expertise together to allow Solomon Corp and KEC to continue advancing and growing as the industry leader in the sale and repair of transformer, regulator and recloser products.
Immediate and long-term benefits
The new alliance will add capacity, inventory and qualified personnel. Solomon Corp is excited about that additional resources this partnership brings the organization. Most importantly, the company adds highly skilled technicians who have helped build and maintain the business. “It is very difficult to find the level of talent that is present at the KEC facility elsewhere in the market,” Mitch said. “Adding these people to the Solomon team will be an incredible benefit to our customers.”
Solomon will work to retain all current KEC customers utilizing pricing, service and quality standards to which they are accustomed. Like Solomon Corp, KEC is committed to a safe workplace to we look forward to learning any best practices that we can adopt into our workplace, Mitch said. “We strive to utilize their customer relationships throughout the Midwest and maintain and grow the successful book of business that is already present. And we anticipate the ongoing alliance with the member cooperatives in Kansas will further cement our presence as a critical partner in the local electric cooperative industry.”
Solomon Corporation specializes in sales and service of oil-filled transformers and industrial transformers. We also offer technical support to the electrical distribution industry, as well as repair, recycling and disposal of transformers, reclosers, and regulators. For more information or to request a quote, visit us at http://www.solomoncorp.com/ or call 800-234-2867.